Businessman Mike Bagguley has been in the London financial industry since 1988. He has been the chief operating officer of the bank Barclays International since June 2016, a position for which he was handpicked by the Chief Executive Officer Tom King. He is a graduate of the University of Warwick where he earned a bachelor of science degree in mathematics in 1988.
Mike Bagguley first joined Barclays in January 2001 when he was chosen to be the head of EUR IR swap trading. He introduced the first electronic trading service in this role. Two years later he was promoted to the position of head of rates linear and options trading. He left Barclays from June 2006 to December 2008 when he worked for ABSA Bank as the head of markets trading. In this role, he hired an additional 30- traders and increased revenue eight times over.
He was brought back into the Barclays universe at the start of 2009. Mike Bagguley took the role of head of fx trading which in the currency trading department at Barclay Investment Bank. In 2011 his hard work led to Barclays achieving its highest ever ranking in the Euromoney FX survey which was second place. Due to this outstanding success, he was promoted to head of fx and commodities trading in May 2012.
Before taking over as COO of Barclays International he had filled the same position at Barclays Investment Bank. It was his work making this company run much more efficiently that resulted in his later promotion. While serving as the COO of Barclays Investment Bank he had also made the company more nimble and so better able to react to changing market conditions.
For a few years Barclays International has been trying to reduce the size of its investment bank, cut costs, and improve revenues and profits. Mike Bagguley was brought in as the COO of Barclays International because he had shown his ability to achieve a reduction of this type in the past. He was tasked with accelerating the pace of this reduction so that Barclays International can achieve this reduction on the timetable they had set for it.